Introduction to Probability and Stochastic Processes with Applications

Books

An easily accessible, real-world approach to probability and
stochastic processes

Introduction to Probability and Stochastic Processes with
Applications presents a clear, easy-to-understand treatment of
probability and stochastic processes, providing readers with a
solid foundation they can build upon throughout their careers. With
an emphasis on applications in engineering, applied sciences,
business and finance, statistics, mathematics, and operations
research, the book features numerous real-world examples that
illustrate how random phenomena occur in nature and how to use
probabilistic techniques to accurately model these phenomena.

The authors discuss a broad range of topics, from the basic
concepts of probability to advanced topics for further study,
including Itô integrals, martingales, and sigma algebras.
Additional topical coverage includes:

Distributions of discrete and continuous random variables
frequently used in applications

Financial mathematics, including pricing methods such as
risk-neutral valuation and the Black-Scholes formula

Extensive appendices containing a review of the requisite
mathematics and tables of standard distributions for use in
applications are provided, and plentiful exercises, problems, and
solutions are found throughout. Also, a related website features
additional exercises with solutions and supplementary material for
classroom use. Introduction to Probability and Stochastic
Processes with Applications is an ideal book for probability
courses at the upper-undergraduate level. The book is also a
valuable reference for researchers and practitioners in the fields
of engineering, operations research, and computer science who
conduct data analysis to make decisions in their everyday work.

Our site uses cookies to improve your experience. You can find out more about our use of cookies
in our "standard cookie policy", including
instructions on how to reject and delete cookies if you wish to do so. By continuing to browse this site you agree
to us using cookies as described in our "standard cookie policy".

Our site uses cookies to improve your experience. You can find out more about our use of cookies
in our "standard cookie policy", including
instructions on how to reject and delete cookies if you wish to do so. By continuing to browse this site you agree
to us using cookies as described in our "standard cookie policy".